154A.410 Content of contracts -- Powers of president in regard to contracts.
225 words·~1 min read·
/ky/chapter-154a/154a-410A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Any contract executed by the corporation pursuant to this chapter shall specify the
reasons for which any contract may be suspended, revoked, or terminated by the
corporation, including, but not limited to:
(a)Commission of a violation of this chapter or administrative regulations
adopted pursuant thereto;
(b)Failure to accurately account for lottery tickets, revenues, or prizes as required
by the corporation;
(c)Commission of any fraud, deceit, or misrepresentation;
(d)Insufficient sale of tickets;
(e)Conduct prejudicial to public confidence in the lottery;
(f)Any material change in any matter considered by the corporation in executing
the contract with the retailer;
(g)Failure to meet any of the objective criteria established by the board pursuant
to KRS 154A.400(1).
(2)If, in the discretion of the president, such denial, revocation, suspension or rejection
of renewal is in the best interests of the lottery, the public welfare, or the
Commonwealth of Kentucky, the president may suspend, revoke, or terminate, after
notice and a hearing, any contract issued pursuant to this chapter. Such contract
may, however, be temporarily suspended by the president without prior notice,
pending any prosecution, hearing, or investigation, whether by a third party or by
the president. A contract may be suspended, revoked, or terminated by the president
for one
(1)or more of the reasons enumerated in subsection
(1)of this section.